Breaking

Home Top Ad

Post Top Ad

Oct 17, 2018

Netflix stock soars on stellar Q3 report

It's impressive to see Netflix's growth from a DVD-by-mail outlet to the
industry's leading video streaming outfit, complete with compelling
original content production. And to think, it all nearly fell apart with
Quickster.
Netflix shares shot up more than 12 percent in after-hours trading on
Tuesday following the release of its favorable third-quarter earnings
report.

Subscriber growth is paramount and in this category, Netflix didn’t
disappoint. Analysts predicted growth of 5.07 million users but Netflix
managed to attract 6.96 million net additions. In total, Netflix now
enjoys north of 137 million subscribers, 130 million of which are paying
members.

As for earnings, Netflix generated $4 billion compared to the $3 billion
it took in a year earlier. Diluted earnings per share checked in a
$0.89 per share versus $0.29 per share during the same time in 2017.

The future is looking even brighter for Netflix as the video streaming
outfit forecast paid net additions of 7.6 million and total net
additions of 9.4 million, up 15 percent and 13 percent compared to the
6.6 million and 8.3 million from the year-ago quarter. Q4 is usually the
most lucrative time for Netflix in terms of growth and revenue and
there’s no reason to see why this year will be any different.https://www.geezgo.com/sps/43156